Using Blockchain, ALIS Aims to Establish A Trustworthy Social Media Platform In Japan
ALIS is a Japanese initiative that uses blockchain technology to enable people to easily find trustworthy information, something that has been nearly impossible on existing social media platforms currently.
ALIS users will use tokens to “endorse” posts, and in exchange be rewarded with additional tokens based on their contribution to identifying quality information. The authors of the “endorsed” posts will also be rewarded with ALIS tokens.
The value of the ALIS tokens will increase along with the user base as the demand increases.
An Opportune Market
Japan represents an opportune market for ALIS, as the country has an exceptionally high rate of bitcoin adoption, as well as one of the highest rates of social media adoption in the world.
Yet despite Japan’s high use of cryptocurrency, reliable information about cryptocurrency and blockchain technology is hard to find. When searching for articles about cryptocurrency and ICOs in Japan, one encounters a myriad of scams and false information. The Internet is rife with scams to exploit the uninformed on a whole host of subjects.
The lack of reliable information on the Internet in Japan has become a national concern, calling for a solution. ALIS founders believe the advertising-based model of social media is the cause of this unfortunate situation, calling for a new type of social media that elevates content using a new model.
Improving On STEEM
ALIS was inspired in part by STEEM, a decentralized social media platform that rewards users for delivering commentary, images, videos, and articles to the site. As adoption grows, the tokens increase in value. The increase in value gets distributed through the exchange of tokens.
ALIS founders saw three areas of differentiation from STEEM.
The first was STEEM’s token scheme of having three different tokens – it’s too complicated for the average user, preventing many newcomers from joining. ALIS will use only one token.
The second difference is that STEEM is not localized for the Japanese audience. Not just in terms of language optimization, but in terms of cultural fit. ALIS is a Japanese team creating a product tailored for the Japanese market.
The third difference between ALIS and STEEM is ALIS’ founders hope to visualize trust in people. ALIS’ system awards those who have found or posted useful information. ALIS aims to be a trustworthy platform for people working in both the business-to-consumer and business-to-business markets by gaining users’ trusts through writing and evaluating trustworthy articles.
Ease Of Use Critical
ALIS makes it easy for users to access reliable information quickly and easily, using blockchain technology that makes the reliable data accessible at a lower cost. The more users “endorse” posts with ALIS tokens, the higher the rewards paid to the authors. The more one creates or finds high quality articles, the more ALIS tokens they will receive.
To prevent centralization, users of ALIS tokens will have a vote on parameter adjustments. ALIS will focus its initial efforts on identifying high quality information in the Japanese language about blockchain technology, cryptocurrencies, ICOs and related topics.
ALIS will also build market shares in niche subculture communities such as manga, anime and musical genres.
A Bid For Dominance
After establishing the position of a reliable medium in those areas, ALIS will start to take on other areas where word-of-mouth networks are not properly serving the market such as restaurants, hotels and travel.
Despite Japan’s high rate of bitcoin use, there are no major blockchain technology players in Japan, creating an opening for ALIS to fill. In addition, the country’s revised Fund Settlement Act prevents foreign players from operating in Japan. ALIS has the language capabilities, experience, and understanding to properly succeed in the highly specific Japanese market.
Despite Japan’s high rate of technical literacy and internet app usage, Japan is currently behind the West in development of social media platforms. ALIS will bid to become the dominant social media platform in Japan. After establishing a position in Japan, the platform will expand to other countries and regions.
The ALIS ICO began on Sept. 1 and will continue through Sept. 29 with a minimum funding goal of 11,666 ETH and a hard funding cap of 125,000 ETH. The official ALIS service will launch a beta version in April 2018. ALIS will issue a total of 500 million tokens, a maximum of half (250 million) will be sold during the ICO. ALIS will own the other half of the tokens, but will be restricted in its ability to sell the tokens, and the team’s tokens will be vested for 36 months.
Since ALIS was announced, it has attracted a lot of attention from the Japanese media. ALIS offers investors the chance to participate in their ICO. You can participate on their website(https://alismedia.jp)
- Author : Lester Coleman